Epstein Secrets

s. We believe that many operators could be interested in the Tropicana assets. We remind investors that Tropicana owns and operates eight casinos in the United States: Tropicana Atlantic City, Tropicana Evansville, Lumiiire Place, Tropicana Laughlin, MontBleu, Belle of Baton Rouge, Greenville and Tropicana Aruba.

3Janualy 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite We believe that other targets of consolidation could include CityCenter, Sands Bethlehem, The Cosmopolitan of Las Vegas, R

4.2mn tonnes of steel. Created in 2006 owing to the merger between Mittel Steel Company N.V. and Arcelor, MTNA is the largest steel producer in the Americas, Africa and Europe, the fifth largest steel producer in CIS and has operations in 18 countries on four continents. MTNA's asset base includes 51 in

3 January 2018 HY Corporate Credit HY Multi Sector,Media, Cable & Satellite Recommendations & Relative Value ArcelorMittal (MTNA): Initiating on all USD-denominated bonds with Buy Ratings Investme

e characteristically weaker (e.g. Russian Ruble) providing CIS with a competitive advantage over competing countries with stronger currencies (e.g. the United States). This is particularly true with respect to the scrap steel trade, whereby a strengthening U.S. dollar typically results in lower U.S. exports of sc

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite CIS: Commonwealth of Independent States Another Substantial Driver of the Global Supply Imbalance CIS encompasses Russia

3% %.1 YoY -9% -a% 49% 32% 9% 9% 4% 73% .9% -2% Obbal $1.41 Supply/0nel MAO 2007 2000 2006 2010 2011 2012 2013 2014 201$ 2016 United Statet 122.200) 00.665/ (10.016) (11,9061 114.602) (19.606) (19,4221 (33.4261 (29,4661 124.0961 Other North America iect U.S.) 112,306) I10231)

3 January 2018 HY Corporate Credit HY Multi Sector,Media, Cable & Satellite North America (NA) NA produced 111 mn mt of steel in 2016 versus apparent demand of 152mn mt. ▪ The U.S. manufactured 78